SACE's Board of Directors has approved a 600 million dollar loan guarantee in favor of j Brazilian-Mexican Braskem Idesa for the construction of the "Etileno XXI" project in the Mexican state of Veracruz which will be the largest petrochemical plant in the Americas.
SACE's guarantee will cover contracts awarded to Italian companies, including numerous SMEs, for design and construction activities and the supply of machinery.
The project involves the construction of an integrated petrochemical plant consisting of a cracker for the transformation of ethane into ethylene and three units for the production of polyethylene, with a total investment of approximately USD 3 billion. When fully operational, the plant will allow Braskem Idesa to increase its polyethylene production up to 1 million tons per year, thus responding to growing domestic demand.
With this operation, SACE reaches an exposure of over € 1,3 billion in Mexico and confirms its support for the competitiveness of Italian companies, facilitating their involvement in development projects in Latin America and relations with large industrial and financial groups in the region.
The complete press release is available at the following address
